Truist Financial Trims Sutro Biopharma (NASDAQ:STRO) Target Price to $15.00

Sutro Biopharma (NASDAQ:STRO) had its target price decreased by equities researchers at Truist Financial from $18.00 to $15.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 266.75% from the stock’s current price.

A number of other brokerages have also recently commented on STRO. Oppenheimer reaffirmed an “outperform” rating and issued a $10.00 target price on shares of Sutro Biopharma in a report on Wednesday, May 15th. Wedbush reaffirmed an “outperform” rating and issued a $8.00 target price on shares of Sutro Biopharma in a report on Tuesday, May 14th. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Sutro Biopharma in a research note on Wednesday. Finally, Bank of America assumed coverage on shares of Sutro Biopharma in a research note on Wednesday, May 8th. They issued a “buy” rating and a $12.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, Sutro Biopharma currently has a consensus rating of “Buy” and a consensus price target of $12.13.

Sutro Biopharma Stock Up 1.2 %

Sutro Biopharma stock traded up $0.05 during trading on Friday, reaching $4.09. The stock had a trading volume of 344,386 shares, compared to its average volume of 886,176. Sutro Biopharma has a 52-week low of $2.01 and a 52-week high of $6.13. The business has a 50 day moving average price of $3.53 and a 200 day moving average price of $4.05. The stock has a market cap of $334.52 million, a PE ratio of -2.18 and a beta of 1.22.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Tuesday, August 13th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.20. The business had revenue of $25.71 million for the quarter, compared to analysts’ expectations of $26.28 million. Sutro Biopharma had a negative net margin of 74.61% and a negative return on equity of 94.18%. On average, equities analysts predict that Sutro Biopharma will post -3.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

Institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its position in shares of Sutro Biopharma by 14,125.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 8,820 shares of the company’s stock worth $38,000 after buying an additional 8,758 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Sutro Biopharma in the 4th quarter valued at about $60,000. ProShare Advisors LLC lifted its holdings in Sutro Biopharma by 49.1% in the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after purchasing an additional 5,373 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Sutro Biopharma in the 1st quarter valued at about $92,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Sutro Biopharma by 24.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock valued at $102,000 after purchasing an additional 3,578 shares in the last quarter. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

About Sutro Biopharma

Sutro Biopharma, Inc operates as a clinical-stage oncology company. The company develops site-specific and novel-format antibody drug conjugates (ADCs) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. Its product candidates include STRO-002, an ADC directed against folate receptor-alpha, which is in Phase II/III clinical trials for patients with ovarian and endometrial cancers; VAX-24 and Vax-31 pneumococcal conjugate vaccine candidates that is in Phase II/III clinical trials for the treatment of invasive pneumococcal disease; and MK-1484, a distinct cytokine derivative molecule that is in Phase I clinical study for the treatment of cancer.